Jordan Made a $100,000 Contribution to the Appo Society,a Not-For-Profit

question 27

Multiple Choice

Jordan made a $100,000 contribution to the Appo Society,a not-for-profit organization.Jordan stipulated that his contribution is to be used for the organization's breakfast program in the next year.How should Appo record the contribution at the time of contribution?

• A)As contribution revenue
• B)As a deferred contribution
• C)As a prepaid expense
• D)No entry is required

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Definitions:

Commercial Property

Real estate property that is used for business activities, such as offices, retail spaces, warehouses, and industrial buildings.

Residential Property

Real estate that is used for housing or dwelling purposes.

Special Deterrence

A principle in criminal justice aiming to prevent a particular offender from committing future crimes by imposing a penalty for their actions.

Fifth Amendment

An amendment to the U.S. Constitution that provides several protections to individuals, including rights against self-incrimination, double jeopardy, and guarantees due process of law.